Indian specialty chemicals maker Dorf Ketal Chemicals India Pvt Ltd said on Wednesday it had bought ExxonMobil Chemical's component additive business for an undisclosed amount.
Mumbai-based Dorf Ketal makes additive chemicals used in oil refineries and petrochemicals plants. “This acquisition will significantly enhance Dorf Ketal's product portfolio, giving customers more opportunities from a single window,” Subodh Menon, the Indian company's president and CEO, said in a a statement.
The statement said ExxonMobil Chemical would transfer its sales, marketing, manufacturing ownership to Dorf Ketal from April 4.
The company said the acquisition was in line with its strategic growth plans. In 2001, Dorf Ketal acquired UOP's refining chemicals and plastics additives business, it said.
Source : Reuters